Can I do it?...
I bought a new car on Saturday and they gave me an estimate of what the interest rate would be and what I would have to pay. They said they'll try and get teh lowest possible. They don't really know til the banks open on Monday. So its monday and I go back to the dealership and they give me what they got... which was a 17% interest rate on $17000 for 66 months... $410 a month.
I seriously don't like this at all... I signed the contracts and what not for the car, but this is ridiculous... about $10000 interest on this car....
I traded my old vehicle in and was kinda rushed to buying...
Can I return it and get another car at the dealership?... I'm young and stupid... I don't like talkin to dealers cause I think they are liars most of the time...
2007-04-02 17:00:26 · 6 answers · asked by Anonymous in Cars & Transportation ➔ Other - Cars & Transportation
I live in Arizona...
2007-04-02 17:02:29 · update #1
I have good credit... just that they said I needed a co-signer cuase my job wasn't secure... so my brother with bad credit had to cosign which brought the interest rate up....
Dealer told me around 13%....
2007-04-02 17:09:17 · update #2
Guess what I live in Arizona--you have 3 days by law to back out. Some dealerships state you have longer, but that is for credit on another car 10 to 13 days------take it back. Join a Credit Union and try again. No point in being a slave for your own car.
2007-04-02 17:39:50 · answer #1 · answered by redrepair 5 · 0⤊ 0⤋
Returning cars is strictly governed by state laws. So you'll need to check quickly into AZ state laws. Some states have a 3 day return policy. In CA there is no "cooling down" period, and most dealerships will point this out clearly in writing.
If you didn't want the interest rate they got, you should not have signed the papers. By signing the papers you have committed yourself to purchasing the car. If you didn't sign them, you could just walk away.
If you're in a state with no cool down period, your best bet is to stop in a few banks or credit unions and ask them to determine what type of interest rate you can qualify for and refinance the car.
2007-04-03 00:06:27 · answer #2 · answered by hsueh010 7 · 1⤊ 0⤋
if you signed the contract, you are stuck with the car. now that you have more time, you still can shop around for a better loan, or refinance in a year when you get some of it paid off. unless the dealer is over sympathetic (fat chance of that happening, since he already got his money), he's not gonna help you with anything. or just don't make the payments. they will repo the car, probably sue you for some kind of charge, and put a big black mark on your credit rating.
2007-04-03 00:10:46 · answer #3 · answered by garyra8668 3 · 0⤊ 0⤋
you have up to 30 days to return the car. if they refuse you contact a lawyer. average interest rate on a used car is only 8.0%. but if you have bad credit 17% will be about the best you will get.
im a car dealer and can tell you its a bad deal all around. im a very honest salesman and that has made me alot of money so far. the typical car salesman are grease balls just like the stereotype.
2007-04-03 00:04:50 · answer #4 · answered by Cars 4 Sale 3 · 0⤊ 0⤋
i would go back and tell them that is not a deal you can hang with and refer back to the estimates they gave you which probably are around 7 to 19 percent and tell them you might need time to think if they cant get you in a car you like for the right rate and if they are hard headed and they piss you off you can tell them you will contact the dealer licensing unit for the state to get a fair judgment and or go to the TV stations to tell other people to be aware of their car selling tectonics.
2007-04-03 00:09:06 · answer #5 · answered by ylautotrader74 2 · 0⤊ 0⤋
Did you read the contract before signing
2007-04-03 02:39:21 · answer #6 · answered by Anonymous · 0⤊ 0⤋